Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

[bugmenot]

-- Edited Post --

Final Update

Official PDFs are now out
Magnus - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf

Reserve - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/rstc.pdf

Revision of Axis Bank Miles/Rewards Transfer Program - https://www.axisbank.com/docs/defau...les-rewards-transfer-terms-and-conditions.pdf

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Update: 2nd August

MyZone - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mztc.pdf
Privilege - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/pvtc.pdf
Select - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/sltc.pdf
Ace - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/actc.pdf

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Magnus devaluation highlights

1. Revision in welcome benefits, which are more or less matching with the leaked screenshots
2. Change in annual fee - ₹12,500 + GST
3. No more renewal benefit
4. Spend criteria for fee waiver is now double - 25L
5. Exclusion of government institutions and utilities MCCs for earning ERs
6. RIP 25,000ER/1L milestone benefit
7. Revised transfer ratio of 5:2
8. 5L ER points cap for transfer
9. Burgundy account scheme

Reserve devaluation highlights

1. Spend criteria for fee waiver is revised to 35L
2. Exclusion of government institutions and utilities MCCs for earning ERs
3. Revised transfer ratio of 5:2
4. 5L ER points cap for transfer
5. Burgundy private account scheme

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Aap Chronology Samajiye

• 📄 Few leaked screenshots of PDF started floating for Magnus and Reserve having potential devaulation
• 🐦Few folks on Twitter acknowledged the upcoming devaulation by contacting their RMs or insiders from CC department
• 🎧 Customer Care team were like "Whot Daa Phaak" is going on. They were unaware about these news, some were saying yes and some no
• 😡 Outrage | Speculation | Twitter Space | Points Transfer Tricks
• ✋ Then rumour mills started about devaulation being on hold
• 🔗 Official links of devaulation PDF started popping but "Darling of Cards" was missing
• 🔌 Axis pulled the plug and links started showing "404 - Not Found" except for unlucky Flipkart card
• 💣 BOMB - Axis Gift Edge devaulation
• 📩 Mass credit card cancellation and notice seeking clarification regarding commercial transactions
• 📉 Official PDF of Magnus and Reserve released
• 📉 Official PDF of MyZone, Privilege, Select and Ace released

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1. Flipkart - https://axisbank.com/docs/default-s...flipkart-credit-card-terms-and-conditions.pdf

Below given links are not opening now as they have been removed. You may check attached PDFs.

2. Reserve - https://axisbank.com/docs/default-s...-reserve-credit-card-terms-and-conditions.pdf
3. Select - https://axisbank.com/docs/default-s...k-select-credit-card-terms-and-conditions.pdf
4. Privilege - https://axisbank.com/docs/default-s...rivilege-credit-card-terms-and-conditions.pdf
5. MyZone - https://www.axisbank.com/docs/defau...-my-zone-credit-card-terms-and-conditions.pdf

By following the format, it is quite easy to create Magnus link, which could be https://axisbank.com/docs/default-source/default-document-library/credit-cards/axis-bank-magnus-credit-card-terms-and-conditions.pdf

 

[hrish88]

Go to the main rewards portal on netbanking. Go to profile once you login on desktop site. There you will see edge rewards. Click there and a new page will open where you can redeem points for instant vouchers and other products.

thanks it worked.

 

[SteelSh0t]

Two things ! I used card mainly for BOGO, it's of no use for me now! I am a family of 4 people(Me, wife and 2 kids) so 1 meet and greet will exhaust it And finally my monthly spends doesn't cross even 1L on this card. So the points accumulated will be very less. And more over skipping interest on 10L makes it useless for me!

Why are you keeping 10 lakhs in bank account? You are losing money to inflation. Instead do 30 lakhs FD.

As for meet and greet, you'll have to adjust back to the time when this facility wasn't available.

 

[kumarvishwas]

Two things ! I used card mainly for BOGO, it's of no use for me now! I am a family of 4 people(Me, wife and 2 kids) so 1 meet and greet will exhaust it And finally my monthly spends doesn't cross even 1L on this card. So the points accumulated will be very less. And more over skipping interest on 10L makes it useless for me!

True even I renewed Magnus just last month because of BOGO offer and Meet and Greet and both the offers have gone away.

The card has already been useless since last September, only BMS and Meet & Greet were the features holding me back to renew it and I sadly renewed it.

Anyways for all other spends I have Infinia which still remains awesome, but still the renewal money paid is hitting hard

Have a trip next month and have booked three meet and greet services just few mins back, let me vasool at least some amount🤣

 

[Swastik]

Axis just keeps falling to new depths

After Sep 23 devaluation, i thought magnus had become a stable product with decent benefits

But now ,it just became absolutely useless

Would pay 10k+gst or worst 12.5k+gst for this rubbish

 

[Saarthak Parihar]

Magnus devaluation message received again. Not sure whether its for MB or not.
My magnus is not burgandy magnus.

Some of the features and Terms and Conditions on your Axis Bank Credit Card no. XXXX will be revised w.e.f. 20-04-24. For details, visit Axbk.in/XlbjqhvYXZq

Mine is Burgundy magnus, I got the message as well.

 

[Swastik]

Words cannot describe how bad I'm feeling right now ,

Magnus was my 1st Super Premium Card ,at a time when DCB or Infinia seemed beyond my reach(I've got separate beef with HDFC ,but that's for another thread) ,Axis gave me Magnus ,

And even after Sep 23 devaluation, i stuck with them because of non spend based benefits ,Lounge ,Meet and Greet ,Guest access etc

But now Axis has chopped off any reason to hold on to this card ,

And I'm shattered

 

[mastfun]

Why are you keeping 10 lakhs in bank account? You are losing money to inflation. Instead do 30 lakhs FD.

As for meet and greet, you'll have to adjust back to the time when this facility wasn't available.

I am not that rich

 

[Rags]

I am not that rich

Then you are not the target customer , on a lighter note 😂

 

[sahilgulati5]

Burgundy Magnus Deval Axbk.in/Xlw2kzdcdtF

Not of much use. Cumulative transfer on group A is only 2lacs which is less. They have clubbed all the top transfer to group A . No use of Magnus any more need to recalculate the strategy again

 

[HOME_CARDER]

 

[HOME_CARDER]

 

[Swastik]

RIP Magnus ,
we had fun while it lasted ,but all good things must come to an end i guess
You were like dream ,too good to be true

 

[ishanmontella]

So, basically all the Magnus Burgundy customers would also be holding the Burgundy debit card, which still entitles them for BMS BOGO offer, and domestic lounge access (without any spend requirement). Am I right, or is there any devaluation of the Burgundy debit card as well?

 

[SteelSh0t]

So, basically all the Magnus Burgundy customers would also be holding the Burgundy debit card, which still entitles them for BMS BOGO offer, and domestic lounge access (without any spend requirement). Am I right, or is there any devaluation of the Burgundy debit card as well?

You are correct.

 

[MilesMax]

The worst part is removing insurance and gold jewellery purchase from Base & accelerated points from MB.

 

[ash_13]

So, basically all the Magnus Burgundy customers would also be holding the Burgundy debit card, which still entitles them for BMS BOGO offer, and domestic lounge access (without any spend requirement). Am I right, or is there any devaluation of the Burgundy debit card as well?

the BMS offer on Burgundy debit card is only applicable till 31st March 2024. God knows whether it will be renewed or not. https://www.axisbank.com/docs/defau...ow-offer-on-burgundy-debit-card31-march23.pdf

 

[jab]

The document talked only about domestic lounge access. So the international lounge access is still unlimited without the min spend right?

 

[Rags]

few Qs
1. Do we get March AEP before 20th April, as it's very important to redeem in the group of our choice? we have to write emails and push Axis leadership to credit March AEP early as the T&C revision is made before mid of march
2. The 10 lac limit between Group A&B is from 20 April 2024 to 31 December 2024. Is this additional 10 lac capping in addition to the transfers we already made until 19 April 2024? For example, I have already made 5 lac miles transfers so far, so will I get an additional 10 lacs mile transfer limit, for a total of 15 lac miles limit in the Calendar year 2024?
3. If someone has both Atlas and M4B, how does customer ID capping work? M4B gives edge rewards and Atlas gives miles

Thanks in advance for the response

 

[typhoon]

G.O.A.T. also has a fate.

 

[BhavyaDoshi]

I want to transfer all 217k points to Marriott but I am only able to convert 182100 MB points at once but I remember people facing issues after having few points left in their MB basket. Can someone help me with transferring all edge rewards without any hassle.